Human Resources

Human Resources

Human Resources

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Monthly Pension Update: February 2018

Pension Plan Fund rate 5.0% through February 2018

Modest returns in both global equity and bond markets helped to partly offset losses in Canadian equities, resulting in a loss of -0.9% (net of fees) in February. Overall performance was also mixed -- returns were 62 basis points (0.62%) below the Fund’s benchmark return for the month but 183 basis points (1.83%) above benchmark for the 12-month period ending February 28, 2018.

The net return after the first six months of the plan year stands at 5.0066% (September 1, 2017 through February 28, 2018). For additional detail, please see the new monthly report on Fund performance prepared by Investment Services.

Note that the current fund rate, which is calculated monthly based on reports from both our managers and the Plan's trustee, is now used to determine final values for members who decide to initiate pension benefit payments as well as for those who elect to transfer their account balances following termination or retirement. Active and deferred member balances are updated once each year based on the fund rate of return following our year-end of August 31.

For more information, please contact the Pensions Services unit of the Department of Human Resources.